Are you wondering how to make money with cryptocurrency?
I’m glad you’re here! without getting too technical, in this post, I’ll show you exactly the easiest ways to make money with cryptocurrencies.
For experienced crypto investors, I’ll be writing another blog post with some more advanced ways of earning money with cryptocurrencies.
1. Buy, Sell, Hold.
One of the easiest ways to make money with cryptocurrency is by using the buy-hold-sell approach. The buy-hold-sell approach is simply the process of investing a certain amount of money in the digital currency of your choice, wait for the price to increase and then sell it.
It’s that simple.
There are multiple exchanges that allow you to purchase cryptocurrencies and sell them. However, the easiest and fastest (In my opinion) is Coinbase. To get started, just go to Coinbase and fill out your information to open a new account.
Once you’ve created your account with Coinbase, load your wallet with cash (like USD, GBP, EUR etc.)
Then you can use that cash to buy either Bitcoin, Ethereum, Litecoin, or Bitcoin Cash.
Now, Coinbase offers very few cryptocurrencies. If you are interested in purchasing other altcoins, there are multiple alternatives to Coinbase, such as Binance, Bittrex, Poloniex and many more. However, I would recommend doing a due diligence before depositing any funds in some exchanges.
2. Start a Blog on Cryptocurrency and Earn Bitcoins.
You can start a blog (Just like I did) and earn Bitcoins too.
Once you’ve started your blog, you can start writing content by giving your opinion on different cryptocurrency projects, reviewing different services that sell and exchange cryptocurrency, or posting updates. The blockchain industry is rapidly growing and interest in cryptocurrency is also growing. There is no better time than now to get informed on the technology. The main goal of starting a blog on cryptocurrency is to share the knowledge acquired through quality content and posts.
Once you’ve found a niche, then monetizing your blog is very easy. You can make money from referrals, affiliate programs or by selling digital products, create courses related to blockchain technology, etc.
Other ways of making money (It would be the last method I’d recommend) could be by placing ads on your website.
3. Start a Business and Accept Payment in Cryptocurrency.
When you hear the word “business” the first thing you might think is that you’re going to need to hire employees, get yourself a lawyer, get a building, the possibility of your business failing and losing all the money that you’ve worked so hard to save up and so on.
But it’s not.
Nowadays you can choose to create an online business and one great example of a blog turned into business is BlockGeeks.
They started a blog at first, wrote content which helped answer some of the questions and address the doubts their readers were having on the whole cryptocurrency industry.Now BlockGeeks have turned that huge readership into an online business which teaches readers how to create your very own cryptocurrency like Bitcoin, Ethereum, Litecoin etc.
They earn anywhere from $29.99 to $497.99 for each person that signs up with any of their popular courses.
You can start an online business too, and instead of accepting payments in USD, GBP, or any other form of the common currency you can choose to accept payments in Bitcoins, Ethers (Ethereum), Litecoin and so on.
FAQ: What if I have an actual brick and mortar business, can I accept payments in cryptocurrency?
Yes, you can!
If you own a business, whether it’s a coffee shop, a restaurant or a retail shop you can start accepting payments in cryptocurrency too and it only adds to the uniqueness of your business which will make you stand out from your competitors and attract more customers to your business.
There are cryptocurrencies that give some dividends as a reward for letting your wallet connected to the network, therefore securing the network and making it more decentralized.
Here are a few names:
Neo — It gives you Gas, and you don’t even need to stay connected, you just need to store your Neo in its wallet where you own the private keys such as Neon Wallet (Software) or Ledger Wallet (hardware). Also a few exchanges such as Binance or KuCoin gives you the gas if you keep your NEOs there; the current dividend is around 4%
Pivx — Keep your wallet online and get around 4.8% annual return in PIVX
OKCash — Keep your wallet online and get around 10% annual return in OK
The basic idea behind an airdrop is to distribute crypto assets to investors, entirely for free, to encourage the adoption of that particular token. However, the concept often leaves investors confused. Surely giving out something valuable for free makes little sense? Why do companies do it? What does an investor need to do to receive these free tokens? What is the catch? In this part of the Lisk Academy, all of these questions will be clarified and explained.
In short, an airdrop involves a cryptocurrency being dispensed to cryptocurrency wallet addresses. Investors will normally log into their wallet to find that they suddenly hold a certain amount of tokens, usually a token that they have never heard of, that they did not have the last time they checked their wallet. It can sometimes be a confusing and uncomfortable surprise the first time that it happens to an unaware investor. However, there is really nothing to worry about.
If you are interested in receiving airdrops, you can join this telegram channel and it will provide you with all the instructions to receive free cryptocurrencies.
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